Guangzhou International Beauty Week | Product selection meeting, beauty show, exchange meeting … See what activities are held in each conference venue.




Recently, the Ministry of Culture and Tourism announced the "Top Ten Cases" and 34 "Excellent Cases" of digital innovation demonstration of culture and tourism, focusing on demonstrating and promoting the latest achievements of digital innovation in the field of culture and tourism. The "Qi Baishi Immersive Digital Light and Shadow Art Exhibition" created by NEC Projection Depth was selected as an excellent case of digital innovation demonstration of culture and tourism in 2023!

Go back in time and experience the artistic course of a generation of masters; Sneak around the painting and feel the rich interest in the master’s pen. Qi Baishi’s Immersive Digital Light and Shadow Art Exhibition (hereinafter referred to as "Qi Baishi Digital Art Exhibition") is based on Qi Baishi’s classic paintings, with the help of digital technology to restore the scene and "activate" the works, leading the audience into Qi Baishi’s artistic world and feeling the charm of Chinese painting in an immersive way. When traditional art meets projection technology, it collides with an unexpected "painting" effect and explodes the cultural tourism market.

Light and shadow cross painting, deducing the new realm of Chinese painting
In "Qi Baishi Digital Art Exhibition", NEC Aurora series projectors skillfully combine painting and shadow to create multiple digital units, so that Qi Baishi’s artistic image and life chapters at different stages converge in the light and shadow space. The subtle details completely outline the prosperity of flowers and trees and the exquisiteness of grass insects under the master’s ink; Real and delicate images vividly restore the natural beauty of Baishi Danqing.

Based on Qi Baishi’s work Wanzhu Mountain Residence, the landscape of the painter’s hometown is reproduced. Gurgling streams, showing the thinking of perch; Festival bamboo shadow, reflecting the charm of literati.

Light and shadow are pens and colors are ink, which reproduces Qi Baishi’s travel track and creative experience of "going out five times and returning five times" and deduces the aesthetic spirit of mountains and rivers.

More than 10 aurora series projectors create a fully immersed light and shadow space, one painting at a time, and reproduce Mr. Baishi’s vigorous and powerful calligraphy; One frame and one scene show the charm of the master’s brushwork.

With Qi Baishi’s paintings of flowers and trees as the core, the aurora series projection restores the bamboo forest in the valley to life, and the quiet beauty of the forest is vivid and fascinating.
Cultural feast, leading urban fashion
Qi Baishi Digital Art Exhibition, based on traditional paintings and integrated with digital art, creates a splendid visual feast, which makes visitors feel as if they are in a "picturesque landscape", attracting experts, scholars and art lovers from all over the country to set off a huge wave of national culture in Changsha. It is reported that the total number of visitors to this exhibition is nearly 600,000, more than 110 reports and more than 20 videos have been published by various media, and the exposure of the whole network has exceeded 100 million, which has exploded many social platforms such as Tik Tok and Xiaohongshu.

The paintings of the masters of the times and the interpretation of light and shadow art jointly present the energy gathering field of traditional art, which makes Qi Baishi Digital Art Exhibition successfully break the circle and become a window for cultural exchange and promotion in Changsha. The success of this exhibition not only explains the artistic charm of China cultural IP, but also inspires the potential of art, bringing phenomenal cultural tourism and art consumption craze to Changsha, promoting the progress of local cultural and creative industrial chains and injecting new vitality into Changsha’s cultural undertakings and economic development.
Digital empowerment, opening up artistic boundaries
NEC Projection, as a pioneer in cultivating visual images and exploring creative applications, deeply participated in Qi Baishi Digital Art Exhibition, from the early planning of light and shadow scheme to the selection of projection products. In order to blend the painting style with the vivid projection, NEC Projection constantly improved and optimized the immersive digital art scheme in the implementation process, and finally presented a unique aesthetic artistic conception and an exhibition technique with artistic appeal, allowing the audience to feel the charm of the works at close range and deeply understand the heritage and charm of China traditional art.



Under the background of digital transformation, the groundbreaking art form of light and shadow is the key to open the treasure box of tradition and modernity, elegance and modernity, and it is also the touchstone to stimulate the economy and create a city business card. NEC projectors provide strong power for the application of light and shadow art with outstanding products and excellent services, create a high-profile "phenomenon-level" exhibition, and empower the spread of traditional art.
The deep integration of "art+technology" is changing the exhibition mode of public cultural venues; Using projection technology to create an immersive space is also the inevitable direction of the future development of business travel complex. NEC projectors continue to exert their strength in the field of digital art, providing a new model for the protection and inheritance of cultural heritage with excellent brand strength and profound technical precipitation, and injecting infinite vitality into the cultural tourism market.
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The Xingyue L draws on the essence of Geely’s brand family design, and the front face adopts a delicate and atmospheric shape. The iconic air intake grille adopts a flying wing design, which complements the eagle-eye headlights, showing a strong visual impact. The overall style blends luxury and sports, and the body lines are smooth and hard, creating a solid and modern appearance image, highlighting Geely’s persistent pursuit of high quality and design sense.

The Xingyue L’s body lines are smooth and powerful, and its slender body size reaches 4770mm*1895mm*1689mm, and the wheelbase reaches 2845mm, providing passengers with a spacious interior space. The front and rear wheel tracks are 1610mm, ensuring the stability and handling of the vehicle during driving. The tire size is 235/50 R19, and it is matched with a delicate wheel rim design, which not only enhances the mobility of the vehicle’s appearance, but also ensures the grip during driving.

The interior design of Xingyue L is unique. It uses a delicate leather steering wheel, which not only feels comfortable, but also has manual up, down and front adjustment functions to meet the individual needs of the driver. The 12.3-inch central control screen shows the sense of technology, integrating multimedia, navigation, telephone and air conditioning control, which is convenient and intelligent. The seats are made of imitation leather, and the main and passenger seats support front and rear, backrest, high and low and waist support adjustment, providing passengers with a comfortable riding experience. The driver’s seat is also equipped with additional heating and ventilation functions, while the power seat memory function enhances the convenience of the driver. In addition, the Xingyue L rear seats support proportional reclining, and the flexible space layout adapts to diverse needs.

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Xinhua News Agency, Moscow, June 3rd (International observation) How has the situation of the conflict between Russia and Ukraine evolved in the past 100 days?
Xinhua News Agency reporter Liu Kai Li Dongxu Geng Pengyu
Russia has carried out special military operations in Ukraine for 100 days until June 3. At present, the focus of the war is Lisichansk and North Donetsk in Lugansk region. Judging from the war reports released by Russia and Ukraine, the competition between the two sides in North Donetsk has become fierce.
Russia has repeatedly stressed that special military operations will achieve all the "set goals", while Ukrainian President Zelensky shouted that he would "fight to the end". At the same time, the western countries led by the United States continue to exert pressure on Russia and increase their military assistance to Ukraine.
Analysts believe that Russia and Ukraine have different negotiating positions, and the United States and the West are constantly on fire. In the short term, peace is hopeless and the war may escalate further. How long the Russian-Ukrainian conflict will last and how it will end depends to a great extent on the future direction of the war situation.
The focus of the war "moved northward"
Since the launch of the special military operation, upor in Mali has been the key target of the Russian army, and the Russian and Ukrainian sides have fought fiercely around this place for more than two months. Russian Defense Ministry said on May 20th that Russian troops have completely controlled the city of upor, Mali. Since then, the focus of the battlefield has moved "northward" to the northeast of Donetsk and the west of Lugansk.
At present, the focus of Russia-Ukraine competition is Lisichansk and North Donetsk in Lugansk region, in which North Donetsk is regarded by Ukrainian troops as one of the most important strongholds in Donbass region. According to a report by the Ukrainian National News Agency on June 1, the Russian army has controlled 70% of the city of North Donetsk.
On the whole, the Russian army still takes the initiative in the battlefield. Zelensky recently admitted that the situation faced by the Ukrainian army is very difficult. He recently inspected the front line of Kharkov State and said on social media that Uzbekistan "will defend the country to the last person, and we will continue to fight and will certainly win".
Russian Defense Minister shoigu said that the special military operations will continue until all the established tasks are completed. The Russian army once said that one of the tasks in the new stage of special military operations is to "completely control Donbass and southern Ukraine."
Leonkov, a Russian military expert, believes that the situation of the Ukrainian army in the "Battle of Donbass" is not optimistic. It may be the most rational choice for the Ukrainian army to withdraw its troops from Donbass and leave its effective forces to reorganize its defense line. Tyshkevich, a researcher at the Institute of Future Relations in Ukraine, believes that Russian troops can’t control the whole territory of Donbass in a short time, and Ukraine has not given up the tactics of "sticky blocking", that is, fighting in areas with good defensive positions, attacking enemy supply lines and conducting mobile operations in other areas, so as to achieve the goal of consuming the enemy to the greatest extent.
The peace talks are difficult to resolve.
After the "Bucha incident" in early April, the Russian-Ukrainian negotiations were interrupted. Russia has repeatedly stressed that it has not closed the door to negotiations, while Zelensky has repeatedly reiterated that Russian troops should be withdrawn to the pre-conflict military contact line or border line, in which case the two sides can resume "normal" negotiations. Medvedev, vice chairman of the Russian Federal Security Council, said that the armistice conditions proposed by Zelensky were impossible in principle.
Recently, some European countries have stepped up their diplomatic mediation with Russia. Italian Prime Minister Mario Draghi, French President Macron and German Chancellor Angela Scholz have successively telephoned Russian President Vladimir Putin to discuss the situation in Ukraine. Turkey has also actively promoted the Russian-Ukrainian dialogue. However, judging from the results, the above diplomatic actions have had little effect on restarting the Russian-Ukrainian negotiations.
Medvedev pointed out that Russia has two red lines of negotiations: the sovereignty of Crimea cannot be discussed; Donetsk and Lugansk regions have chosen their own destiny, and it is meaningless to talk about "autonomy" within the framework of Ukraine.
Tyshkevich believes that the Russian-Ukrainian conflict has actually developed into a "long-term war", and the "active phase" may last for several months or even longer. The next key is to discuss the relevant conditions of the ceasefire agreement, but even if a ceasefire is reached, it will be very fragile.
Russian military expert Pelendzhiev believes that Kiev has no autonomy in negotiations, and Russia’s real negotiating partner is the Western countries, but at present, "the West is not ready for serious negotiations."
The west poured oil on the fire
Since the escalation of the conflict between Russia and Ukraine, the West has exerted extreme pressure on Russia and imposed several rounds of severe sanctions on Russia in economic, financial, energy and cultural fields. At the same time, the West has continued to provide military assistance to Ukraine, from the initial helmets and body armor to the current heavy weapons and sophisticated weapons, and the military assistance has been continuously strengthened.
On May 31, US President Biden approved the latest batch of weapons aid to Ukraine, including providing a long-range multi-barrel rocket launcher system at the request of Ukraine. In addition, the Ukrainian Ministry of National Defense said on May 28 that Ukraine is receiving a batch of Harpoon anti-ship missile systems from Denmark, Britain and the Netherlands for defense in the Black Sea region, and other partner countries will also supply such missiles to Ukraine one after another. At the same time, the EU recently passed the sixth round of sanctions against Russia, banning the import of 75% Russian oil.
In this regard, Putin stressed that it is very dangerous for the West to continue to deliver weapons to Uzbekistan, which may lead to further tension and deterioration of the humanitarian crisis. Russian Ambassador to the United States Antonov said on May 28th that the influx of western weapons into Ukraine "significantly triggered the risk of conflict expansion", and it would be "unacceptable" for Russia if the United States sent long-range artillery systems to Ukraine.
Buzarov, an expert on Ukrainian international issues, believes that Biden recently signed a $40 billion aid bill to Ukraine, and it is expected that the United States will continue to strengthen its military aid to Ukraine in the future. Russian independent political scientist Gevorgyan said that under such circumstances, it is impossible to expect great progress in Russia-US relations, and cooperation between the two sides on issues such as strategic dialogue and the Iranian nuclear issue is out of the question.
Russian Foreign Minister Lavrov said that in fact, the West has launched an "proxy war" against Russia, and the direction of Russia-West relations depends entirely on the West. When the west falls into "anti-Russian fanaticism", even if they propose to restart relations with Russia in some way, Russia has to seriously consider whether it is worth it.
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The exterior design of the BMW i4 is unique, and the front face adopts the BMW family-style kidney-shaped air intake grille. However, different from the traditional fuel vehicle, the i4 grille adopts a closed design, and the headlights on both sides are sharp and echo the air intake grille, forming a strong visual impact. In terms of overall style, BMW i4 adopts a design language with a sense of sports and technology, with smooth body lines and a unique LED taillight group at the rear, which makes the overall shape simple without losing the sense of luxury.
The BMW i4 has a streamlined body design with a size of 4785*1852*1455 mm, a wheelbase of 2856 mm, a front track of 1601 mm and a rear track of 1630 mm. The body lines are smooth, with the front tyre size being 245/45 R18 and the rear tyre size being 255/45 R18. It is equipped with a unique rim style, which increases the sense of movement of the whole vehicle.

The interior design of BMW i4 is unique, adopting modern and simple style, creating a high-end and scientific atmosphere. The 14.9-inch touch screen on the center console is particularly eye-catching, supporting voice recognition control of multimedia system, navigation, telephone and air conditioner, which improves the convenience of driving experience. The steering wheel is made of leather, which provides manual up-and-down and back-and-forth adjustment functions to ensure the driver to find the most comfortable grip posture. The car is also equipped with a number of USB and Type-C interfaces, as well as the front wireless charging function, which is convenient for the charging needs of modern technology products. In terms of seats, BMW i4 offers a variety of choices, including imitation leather, genuine leather and fabric/suede materials. Both the main and passenger seats have heating function, support the adjustment of front and rear, backrest, height and leg rest, and have electric seat memory function to meet different driving needs. The rear seats support proportional reclining, which increases the flexibility of luggage space.

The BMW i4 is equipped with a powerful motor with a maximum power of 250 kW and a maximum torque of 430 Nm, providing excellent power output and a smooth driving experience.
In the evaluation of BMW i4, it is especially mentioned that the vehicle has good sound insulation effect, full power and its eye-catching design. He even said that the interior design of the BMW i4 with volcanic red interior was not inferior to that of Mercedes-Benz, which showed his great recognition of this car.

    Today is the seventh day of the Lunar New Year. In the past two days, many passengers who have returned to work and visited relatives and friends have embarked on a return journey. Local railway departments have increased their transport capacity and actively responded to the passenger flow after the holiday.
    At 7: 27 am on February 15th, the G2301 train loaded with 556 migrant workers from Yunnan slowly left Zhenxiong Station. In order to do a good job of returning migrant workers to their posts, Chengdu Bureau of China Railway will launch a special train for migrant workers from southwest China to Rui ‘an, Jinhua, Yongkang and Wenzhou from February 15th to March 5th.
    Xi ‘an Bureau of China Railway opened a special train from Hanzhong to Guangzhou and Shenzhen every other day. Wuhan Bureau of China Railway also runs a 14-day special train for migrant workers in Huizhou and Dongguan in Dabie Mountain area, sending nearly 10,000 Dabie Mountain villagers back to work. Gannan county, Qiqihar City, Heilongjiang Province, is a county with a large population of migrant workers. Harbin Bureau of the State Railway, relying on the "road+railway" seamless docking mode, has opened up a fast return passage for migrant workers.

    Zhou Wenqing, Deputy Director of Passenger Transport Workshop of Qiqihar Station of Harbin Bureau of China National Railway: We have established a wechat group for migrant workers’ service, and learned their travel time, number and batch in time, and coordinated according to their needs at any time. Since the fifth day of junior high school, 11 groups of migrant workers have returned to their posts.
    Faced with the double superposition of work flow and family visit flow, local railway departments have expanded their transportation capacity by adding trains, reconnecting emus and hanging carriages. Zhengzhou Bureau of China Railway adjusts the number of trains in real time according to the passenger flow and the online booking and pre-sale of tickets. Zhengzhou Locomotive Depot mobilizes the spare capacity to send more personnel reasonably, shortens the departure interval and ensures sufficient capacity.

    Yang Hongliang, Duty Director of Zhengzhou Locomotive Depot of Zhengzhou Bureau of China Railway, said: Today (15th), we started 784 EMU trains, arranged 21 high-speed trains at night, and flexibly deployed EMU drivers to wait for passengers, thus increasing the supply of locomotives.
    On the trains from Nanchang to Chengdu East and Guangzhou, where there are many migrant workers, the railway staff collected and sorted out the legal guides for migrant workers and distributed them to passengers in need to help them raise their awareness of rights protection and protect their legitimate rights and interests.
    Railway departments around the country carefully serve the warm return road.
    In order to allow passengers to taste the delicious food along the route. A number of railway lines enrich train meals and foods. At Xishuangbanna Station in China-Laos Railway, a hot-chain box lunch which is cooked now and delivered at a constant temperature appears. Passengers can place an order through the "Kuntie+"applet or scan the QR code of the armrest one hour before arriving at Xishuangbanna Station, and then they can taste the fresh food made within 40 minutes, such as Dai beef, Banna millet and pineapple rice. In some routes from Zhengzhou to Guangzhou and Shenzhen, various packages such as fine beef brisket, braised pork, tomato and eggs have been added to enrich the taste buds of passengers.

    Lanzhou Bureau of China Railway has set up a "New Year Collection" in the waiting room of Yinchuan Station, which brings together more than 20 kinds of special products such as Yanchitan mutton and Babao tea in Ningxia. In addition to the new year’s goods collection, the China-Europe imported goods bonded store also entered Beijing Station. All the goods in the store adopt the mode of global direct mining plus bonded e-commerce.
    On the way back, in order to prevent the children from being separated from their parents during the travel time with dense crowds and large passenger flows, the staff of Yingtan North Station also made an anti-loss bracelet. Parents can write the information such as the date of travel, the number of trains and the seat number on the bracelet, and the staff can quickly help the children find their parents with the information on the bracelet.
With the support of the state subsidy policy, Luyuan electric vehicle launched a nationwide trade-in campaign in an all-round way. With the dual preferential mode of "policy subsidy+enterprise profit-making", it set off a trade-in boom of "spending a small amount of money to exchange a good car", promoting the iteration of electric bicycle renewal and helping the ecological construction of green travel.
Double superiorityHui, cycling costs 1,500 yuan to Gaoli Province.
In Zhejiang Province, for example, consumers can enjoy the maximum subsidy of 40% given by the government when they bring their old cars to Luyuanmen for replacement. After this subsidy is superimposed with the discount of old cars, the maximum discount range of bicycles can reach 1500 yuan, which realizes the preferential mode of "making up for it" and greatly reduces the cost of car purchase for consumers.
The subsidy application process is simple. Consumers can complete the subsidy application through the local government platform or the trade-in area of the designated APP. Subsequently, the whole process of old car evaluation and new car replacement can be completed at the nearest certification service outlets. Luyuan will follow up the whole service to ensure the smooth implementation of subsidy policies and provide consumers with a one-stop convenient service experience.

Since the launch of the trade-in subsidy activity, it has attracted many consumers to participate, effectively promoting the upgrading of electric vehicles and helping to build a green travel ecology. Luyuan, as an important enterprise in the electric vehicle industry, played an active role in this activity by virtue of technological innovation and service upgrade, providing consumers with more cost-effective car purchase options and contributing to the sustainable development of the industry.
Core technology,Establish a durable benchmark for the industry
In the two-wheeled electric vehicle industry, Luyuan stands out with its outstanding technical strength. Its self-developed liquid-cooled motor technology can be called "black technology". By accurately controlling the working temperature of the motor, it effectively overcomes the problem of performance decline caused by high-temperature demagnetization and water rusting of the traditional motor, and greatly improves the life of the motor from 2-3 years in the industry to 10 years, and promises a 10-year warranty for core components, which has become the benchmark for durability in the industry.
Luyuan’s digital battery maintenance system is also bright, just like the "intimate nanny" of the battery. The system not only solves the problems of battery life shrinking at low temperature and bulging at high temperature, but also supports APP to remotely monitor power and temperature, and is equipped with high-temperature early warning and overcharge protection functions to ensure battery safety in all directions. In addition, the three-year warranty of lead-acid battery initiated by Luyuan has been certified by Jost Sullivan, which promotes the upgrading of industry standards and transforms electric vehicles from "consumable" to "durable".

The application of these technologies not only improves the safety and service life of Luyuan electric vehicles in all directions, but also highlights Luyuan’s persistent pursuit of quality and safety.
Full service, worry-free car purchase
Luyuan knows that high-quality products and intimate services are indispensable. Recently, it has comprehensively upgraded its customer service, caring for consumers from car consultation to after-sales service. With this initiative and the development of the "trade-in" activity, Luyuanmen ushered in the peak of passenger flow.
After the event started, the store was crowded, and citizens brought old cars for consultation and redemption. Ms. Zhang, who is handling the business, said: "The old car has potential safety hazards, and the new car with Luyuan can get subsidies, and the quality is guaranteed, which is very cost-effective." According to the data of the Ministry of Commerce, as of April 24, the total number of electric bicycles in China has reached 4.2 million. Luyuan has become a popular choice for consumers to rejuvenate their travel with its core technology and intelligent manufacturing advantages, and some models are in short supply. Store data also shows that passenger flow and sales have increased significantly since the launch of the event.

Luyuan’s "trade-in" campaign not only brought consumers the benefits of 1,500 yuan from the state subsidy to Gaoli Province, but also promoted the consumption upgrade of green travel and injected vitality into the electric bicycle market. By providing high-quality, durable and environmentally friendly electric vehicle products, Luyuan has enhanced its brand influence and set an example for the healthy development of the industry.





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It fully embodies the policy intention of interest rate policy to participate in activating the real estate market and promoting a virtuous circle of the real estate market.
Xu Qian, reporter of China Housing News, reports from Beijing.
After a lapse of eight months, the LPR of more than five years ushered in the first downward adjustment in the Year of the Loong.
On the morning of February 20th, the People’s Bank of China authorized the National Interbank Funding Center to announce that the quoted interest rate (LPR) of the loan market on February 20th, 2024 was: the one-year LPR was 3.45%, which was the same as the previous value; The LPR over 5 years is 3.95%, which is 25 basis points lower than the previous value.
Prior to this, China’s five-year LPR has remained unchanged for seven consecutive months, and the one-year LPR has remained stable for five consecutive months. This asymmetric "interest rate cut" in the industry’s view is more in line with the current policy of stabilizing real estate and stabilizing the economy.
From the perspective of LPR formation mechanism, LPR is made up of 18 quotation lines after adding points according to MLF interest rate, and a highest quotation and a lowest quotation are removed, and the data after weighted average calculation forms quotations. Generally speaking, it is normal to adjust the one-year LPR symmetrically with the one-year LPR over five years, but asymmetric adjustment is not uncommon.
The last symmetrical adjustment was on June 20, 2023, and both the one-year LPR and the five-year LPR were lowered by 10 basis points. In the subsequent adjustment on August 21, 2023, the one-year LPR was lowered by 10 basis points, while the LPR over five years remained unchanged.
LPR with a term of more than 5 years is the main reference benchmark for the pricing of medium and long-term corporate loans and personal housing loans. The reporter noted that since August 20, 2019, there have been eight downward adjustments in LPR interest rates for more than five years in China, but in the past, the downward adjustment was generally 5 to 15 basis points. The one-time reduction of LPR for more than five years is 25 basis points, which is the fiercest rate cut ever recorded in history, releasing a great signal to reduce the interest rate of medium and long-term loans.
Li Yujia, chief researcher of the Housing Policy Research Center of Guangdong Urban and Rural Planning Institute, explained that this year, the pressure of steady employment and steady growth has increased, and the policy focus has returned to a loose framework. However, based on the weak employment and income expectations of residents, the policy side is not only stimulating on the demand side, but more importantly, it is to reduce costs. This LPR reduction is to reduce costs. On the one hand, the fundamentals of the demand side of the property market are still weak, and residents’ expectation of buying houses with leverage is low; On the other hand, a substantial and one-off reduction in the beginning of the year will avoid the market wait-and-see mood of "interest rates will be lowered, and then we will wait for housing and loans", which is conducive to promoting residents to borrow money to buy houses.
Chang Yang, chief analyst of Zhongtai Securities, said that the asymmetric downward adjustment of interest rates in different maturities indicates that the target that the policy wants to play a role is focused, and the one-year LPR remains unchanged, or indicates that the intention to stimulate manufacturing investment and consumption is relatively stable. Due to the relatively strong correlation between the five-year LPR and the real estate market, lowering the five-year LPR interest rate is also a part of the combination of demand-side policies in the real estate market. Combined with the recent intensive introduction of more policy measures around the real estate market, it fully reflects the policy intention of interest rate policy to participate in activating the real estate market and promoting a virtuous circle of the real estate market.
"LPR over five years is the pricing benchmark of individual housing loans. The decline of LPR over five years will further reduce the interest expenses of residents’ mortgages and promote the stable development of the real estate market." Dong Ximiao, chief researcher of Zhaolian, said.
The LPR for more than 5 years has dropped, when can the mortgage interest rate drop? This is a problem that the market is very concerned about.
According to the relevant announcement issued by the central bank, financial institutions should negotiate with customers of floating interest rate loans from March 1, 2020, and choose one of two interest rate pricing methods: fixed interest rate or floating interest rate, that is, LPR+ plus points (the points can be negative). Under normal circumstances, a fixed interest rate is chosen, and the annual repayment rate remains unchanged until all loans are paid off; However, if the floating interest rate is selected, the mortgage interest rate will be priced by LPR as the pricing benchmark+basis point (1 basis point is 0.01%).
It should be noted that after the LPR adjustment, the user’s mortgage interest rate is not adjusted immediately. Generally speaking, the repricing date of mortgage interest rate is January 1st of each year or the loan issuing date (different banks have different policies, so users can choose when signing loan agreements). Therefore, for the existing mortgage, the new interest rate will be obtained according to the latest LPR quoted interest rate and the contractual basis point on the interest rate repricing date, and will be implemented in the next cycle.
According to the data monitored by RealData, in January 2024, the average interest rate of the first mainstream mortgage in Baicheng was 3.84%, and the average interest rate of the second mainstream mortgage was 4.41%. Li Yujia predicted that, considering that the mortgage interest rate dropped slightly last year, the housing loan interest rate will continue to decline this year, and the first and second home loan interest rates will drop by at least 30 basis points.
Yan Yuejin, research director of Yiju Research Institute, believes that the current real estate market is in the stage of stabilization and recovery, but the recovery process needs to be consolidated. This "interest rate cut" is beneficial to the reduction of capital cost and directly leads to the reduction of mortgage interest rate, which has a positive impact on the mortgage market. According to the simple calculation of the loan principal of 1 million yuan and the repayment method of 30 years’ equal principal and interest, the monthly mortgage payment of buyers can be reduced by about 150 yuan after the interest rate cut, which is a relatively heavy burden reduction, which is helpful to further promote the application and consumption of mortgage loans and promote the active follow-up housing market.
Original title: "Heavy! The biggest "interest rate cut" in history! 》